Insider Selling: Centuri (NYSE:CTRI) Major Shareholder Sells $13,136,970.00 in Stock

Key Points

• Carl Icahn sold 625,570 Centuri shares for about $13.14 million at an average price of $21.00, reducing his stake by 4.36%. He retained 13.71 million shares after the sale.
• Centuri reported quarterly EPS of $0.42, beating analysts’ $0.23 estimate, while revenue of $1.19 billion topped forecasts and rose 40.2% year over year.
• Analyst sentiment is mixed: the stock has an average “Hold” rating and a $27.50 average price target, with three Buy, two Hold, and two Sell ratings.

Centuri Holdings, Inc. (NYSE:CTRI - Get Free Report) major shareholder Carl Icahn sold 625,570 shares of the business's stock in a transaction on Monday, November 9th. The stock was sold at an average price of $21.00, for a total transaction of $13,136,970.00. Following the transaction, the insider directly owned 13,710,474 shares of the company's stock, valued at approximately $287,919,954. This represents a 4.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Centuri Stock Performance

NYSE:CTRI traded down $0.40 during mid-day trading on Thursday, hitting $22.26. 1,090,991 shares of the company's stock traded hands, compared to its average volume of 2,267,578. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 30.62, a price-to-earnings-growth ratio of 0.78 and a beta of 0.94. The firm has a 50 day moving average of $20.48 and a two-hundred day moving average of $26.99. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.88. Centuri Holdings, Inc. has a 12 month low of $18.50 and a 12 month high of $42.99.

Centuri (NYSE:CTRI - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.19. Centuri had a return on equity of 8.26% and a net margin of 1.45%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company earned $0.19 earnings per share. The company's quarterly revenue was up 40.2% compared to the same quarter last year. On average, equities analysts forecast that Centuri Holdings, Inc. will post 0.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CTRI has been the subject of a number of research reports. Robert W. Baird reduced their price target on shares of Centuri from $33.00 to $26.00 and set an "outperform" rating for the company in a report on Tuesday, September 29th. Wells Fargo & Company dropped their price objective on shares of Centuri from $28.00 to $24.00 and set an "overweight" rating on the stock in a report on Friday, November 6th. JPMorgan Chase & Co. dropped their price objective on shares of Centuri from $23.00 to $22.00 and set an "underweight" rating on the stock in a report on Monday, October 19th. Cantor Fitzgerald upped their price objective on shares of Centuri from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Wednesday, August 19th. Finally, Weiss Ratings upgraded shares of Centuri from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $27.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in shares of Centuri by 46.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 890,022 shares of the company's stock valued at $25,998,000 after purchasing an additional 281,264 shares during the period. Irenic Capital Management LP raised its holdings in shares of Centuri by 46.2% in the 2nd quarter. Irenic Capital Management LP now owns 518,705 shares of the company's stock worth $15,686,000 after buying an additional 163,934 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of Centuri by 798.4% in the 1st quarter. Quantinno Capital Management LP now owns 90,811 shares of the company's stock worth $2,653,000 after buying an additional 80,703 shares in the last quarter. NEOS Investment Management LLC lifted its position in shares of Centuri by 33.7% during the 2nd quarter. NEOS Investment Management LLC now owns 617,145 shares of the company's stock worth $18,662,000 after buying an additional 155,647 shares during the period. Finally, Sei Investments Co. lifted its position in shares of Centuri by 75.1% during the 1st quarter. Sei Investments Co. now owns 111,437 shares of the company's stock worth $3,255,000 after buying an additional 47,809 shares during the period.

Centuri Company Profile

Centuri Holdings, Inc. is a North American utility infrastructure services company that builds, maintains and upgrades systems used to deliver natural gas and electricity. Its work includes installing and replacing underground gas pipelines, constructing and maintaining electric distribution infrastructure, and providing related inspection, repair and emergency-response services. The company serves regulated utilities and other energy customers across the United States and Canada. Its operating businesses include NPL Construction, Neuco, Linetec Services and Riggs Distler, which provide capabilities spanning gas distribution, electric utility construction and broader infrastructure work.

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